GM CEO Whitacre says will step down Sept. 1

[onehandle]

Source: AP

DETROIT – General Motors Co. CEO Ed Whitacre said Thursday he's stepping down Sept. 1.

Whitacre, 68, will be replaced by GM board member Daniel Akerson, the managing director and head of global buyout for The Carlyle Group, a private equity firm. Akerson, 61, will be GM's fourth CEO in 18 months when he takes over the job.

Whitacre was named GM's chairman last July when GM emerged from bankruptcy protection. After he ousted CEO Fritz Henderson, Whitacre was named interim CEO in December and became permanent CEO in January.

Whitacre, the former head of AT&T, often said in a folksy Texas drawl that he knew little about cars. But he shook up the company with a number of managerial changes, including luring Chief Financial Officer Chris Liddell from Microsoft Corp. He also combined sales and marketing responsibilities and consolidated control of GM's core North American market under one executive

Read more: http://news.yahoo.com/s/ap/us_gm_ceo

[Auggie]

1. Once again there's someone in charge without automobile experience...

And from Carlyle, no less

WTF?

[midnight armadillo]

2. that was my thought too!

Mulally over at Ford came from a manufacturing background. This Carlyle guy - "head of global buyouts"? WTF does he know?

[Auggie]

4. My Dad's a retiree. It's unbelievable to hear what they

guaranteed him in pension/health insurance to get him to retire early and have since taken away.

And now they hand the keys of the company over to another corporate fascist. Holy fuck.

[Raine]

6. It's WORSE than that Google Carlyle Group

and see the criminals that are in this whole thing!!!!!!!!!

[PassingFair]

3. Great.

Now the MIC is actually running GM.

:crazy:

[Raine]

5. Yeah more of the Bush crime family

once again in control. :mad: Everyone should Google Carlyle and see what an outrage this is!!!!!!!!!!! :grr:

edit: typo